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Iceland Ireland Posts 63% Revenue Increase

Iceland Stores Ireland Ltd has posted a 63% revenue increase to €49.23 million in the 12 months to the end of March, according to its most recent financial statement.

The directors of the company said the Iceland food retail business in Ireland continued to trade successfully and ‘further sites are being sought for the current year,' reports Examiner.ie

Its expansion has boosted staff numbers to 369, including 345 in sales and 24 employed at its main office.

The privately-owned retailer's outlets in the ROI include several in Dublin, as well as Ballincollig Co Cork, Co Carlow, Clonmel, Co Tipperary, Fermoy Co Cork, Co Galway, Letterkenny Co Donegal, Co Limerick, and Co Waterford.

The company reportedly made an after-tax loss of €676,000, including a tax credit of €18,000.

UK Business

The firm’s parent, the UK-based Iceland Foods posted pre-tax profits of £32.8 million (€36.9million) on revenues of £2.97 billion.

Iceland, which trades from 905 UK stores specialising in frozen food.

The growth of online sales has also transformed the market, and Iceland said its online business continued to show strong growth and had maintained its position as Britain's fastest growing online food retailer.

© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition. 

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